Home › Quarterly results › Q4 FY26
Q4 FY26 quarterly results (January-March 2026)
5,115 companies have declared Q4 FY26 results so far, the latest on 12 Oct 2026.
Across the 4,645 non-financial companies with a year-ago quarter to compare, sales grew +12.4% and net profit +34.1% year on year, and the combined operating margin widened 10 bps to 14.3%.
For the 120 banks and lenders, net interest income grew +9.1% and net profit +11.1%.
55% of companies grew net profit; 472 turned a loss into a profit; 38% beat their own profit trend and 48% fell short of it.
5115 declared
Latest results
Results calendar
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
The next results season has started: 43 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q4 FY26 scoreboard
Sales growth
+12.4%
YoY, 4645 companies combined; median +11.7%
Net profit growth
+34.1%
YoY combined; median +16.1%
Operating margin
14.3%
+10 bps YoY
Grew profit
55%
472 turnarounds, 495 into loss
Vs own profit trend
38% / 48%
above / below, 14% in line
Banks: NII growth
+9.1%
120 lenders; profit +11.1%
Price since results
-3.9%
median; 31% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
1375 matching results 1375
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M Cap ₹251 Cr
P/E 43.5
PEG —
Profit -84% below its own trend Operating margin contracted 576 bps YoY 42% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +211%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+364.5% +423.2%
35.2 6.7 7.6 Operating profit
+202.4% from loss 3.8 -4.6 1.2 OPM %
-576 bps +7953 bps
10.7% -68.8% 16.5% Other income
-64.2% +45.1%
2.7 1.8 7.5 Net profit?
-68.8% from loss 4.0 -2.9 12.7 PAT margin %
— +5478 bps
11.2% -43.5% — EPS (₹)
-82.1% from loss 0.07 -0.06 0.39
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹3.7 Cr, other income ₹2.7 Cr.
Core profit YoY: +210.8%
· reported profit -68.8%
Cash & debt
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6.0 ₹35.2
+488.1% above Net profit ₹25.4 ₹4.0
-84.4% below
Operating margin contracted 256 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY
Mar 2026 Mar 2025
Sales
-63.8%
41.3 114 Operating profit
to loss -0.9 0.6 OPM %
-256 bps
-2.1% 0.5% Other income
from loss 1.6 -1.2 Net profit
loss narrowed -0.1 -0.7 PAT margin %
+43 bps
-0.2% -0.6% EPS (₹)
loss narrowed -0.05 -0.44
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹1.3 Cr, other income ₹1.6 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹12.6 Cr.
Borrowings nil at Mar 2026.
M Cap ₹248 Cr
P/E 41.3
PEG —
Operating margin contracted 185 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
-8.6% -9.3%
98.0 108 107 Operating profit
-67.5% -85.7%
1.0 7.0 3.1 OPM %
-185 bps -546 bps
1.0% 6.5% 2.9% Other income
+19.8% +0.0%
3.0 3.0 2.5 Net profit?
-57.0% -80.0%
1.0 5.0 2.3 PAT margin %
-115 bps -361 bps
1.0% 4.6% 2.2% EPS (₹)
-55.9% -78.9%
0.97 4.59 2.20
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹2.0 Cr, other income ₹3.0 Cr.
Core profit YoY: to loss
· reported profit -57.0%
Cash & debt
FY26 cash from operations ₹30.0 Cr.
Borrowings ₹22.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹114 ₹98.0
-13.9% below
M Cap ₹247 Cr
P/E 0.8
PEG 0.03
Profit -15% below its own trend Operating margin expanded 502 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-20.1% +28.2%
64.8 50.6 81.2 Operating profit
from loss —
1.7 0.1 -2.0 OPM %
+502 bps +237 bps
2.6% 0.2% -2.4% Other income
-82.8% -34.4%
1.5 2.2 8.5 Net profit
-11.1% +486.7%
0.9 0.1 1.0 PAT margin %
+14 bps +106 bps
1.4% 0.3% 1.2% EPS (₹)
+0.0% —
0.02 0.00 0.02
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹0.6 Cr, other income ₹1.5 Cr.
Core profit YoY: loss narrowed
· reported profit -11.1%
Cash & debt
FY26 cash from operations −₹30.0 Cr:
-391% of FY26 net profit of ₹7.7 Cr.
Borrowings ₹55.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹76.7 ₹64.8
-15.4% below Net profit ₹1.0 ₹0.9
-14.7% below
M Cap ₹244 Cr
P/E 11.7
PEG —
Profit -89% below its own trend Operating margin contracted 781 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.9% +21.8%
138 113 99.8 Operating profit
-50.3% -45.0%
6.0 11.0 12.2 OPM %
-781 bps -534 bps
4.4% 9.7% 12.2% Other income
+4.3% -41.7%
3.1 5.3 3.0 Net profit?
-85.3% -86.5%
1.1 8.3 7.6 PAT margin %
-681 bps -652 bps
0.8% 7.3% 7.6% EPS (₹)
— -87.1%
0.04 0.31 0.67
No EPS growth against Mar 2025: ₹2 to ₹1 split in Apr 2026 and 1:2 bonus in Apr 2026.
Quality of profit
Pre-tax profit ₹1.3 Cr: core business −₹1.8 Cr, other income ₹3.1 Cr.
Core profit YoY: to loss
· reported profit -85.3%
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹138
+15.3% above Net profit ₹9.8 ₹1.1
-88.5% below
M Cap ₹244 Cr
P/E 7.6
PEG 0.13
Turnaround: profit against a loss a year ago Operating margin expanded 212 bps YoY 91% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+106.7% +7.3%
325 303 157 Operating profit
+260.3% -5.7%
16.1 17.1 4.5 OPM %
+212 bps -68 bps
5.0% 5.7% 2.9% Other income
+166.5% +115.1%
11.8 5.5 4.4 Net profit?
from loss +39.6%
9.9 7.1 -1.0 PAT margin %
+371 bps +71 bps
3.0% 2.3% -0.7% EPS (₹)
from loss +39.6%
1.48 1.06 -0.15
Quality of profit
Pre-tax profit ₹12.9 Cr: core business ₹1.1 Cr, other income ₹11.8 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹20.0 Cr:
-76% of FY26 net profit of ₹26.4 Cr.
Borrowings ₹481 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹214 ₹325
+51.4% above
M Cap ₹243 Cr
P/E 8.6
PEG 0.24
Profit +59% above its own trend Operating margin contracted 806 bps YoY 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -19%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.8% +41.4%
41.0 29.0 42.6 Operating profit
-29.6% +125.0%
9.0 4.0 12.8 OPM %
-806 bps +816 bps
22.0% 13.8% 30.0% Other income
+635.8% +150.0%
10.0 4.0 1.4 Net profit?
+60.1% +140.0%
12.0 5.0 7.5 PAT margin %
+1167 bps +1203 bps
29.3% 17.2% 17.6% EPS (₹)
+29.6% +112.1%
1.40 0.66 1.08
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹7.0 Cr, other income ₹10.0 Cr.
Core profit YoY: -19.2%
· reported profit +60.1%
Cash & debt
FY26 cash from operations −₹42.0 Cr:
-144% of FY26 net profit of ₹29.2 Cr.
Borrowings ₹102 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹57.3 ₹41.0
-28.5% below Net profit ₹7.5 ₹12.0
+59.4% above
M Cap ₹241 Cr
P/E 85.7
PEG 2.09
Operating margin expanded 1221 bps YoY 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+203.9% +80.2%
26.8 14.9 8.8 Operating profit
+592.9% from loss 5.8 -0.4 0.8 OPM %
+1221 bps +2439 bps
21.7% -2.6% 9.5% Other income
+8.4% -4.8%
2.2 2.3 2.0 Net profit?
— from loss 5.4 -2.0 0.0 PAT margin %
+2006 bps +3344 bps
20.2% -13.3% 0.1% EPS (₹)
— from loss 0.03 -0.01 0.00
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹3.8 Cr, other income ₹2.2 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹32.1 Cr:
1230% of FY26 net profit of ₹2.6 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8.0 ₹26.8
+233.4% above
M Cap ₹241 Cr
P/E 29.4
PEG 2.10
Operating margin contracted 108 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+85.9% -1.2%
264 267 142 Operating profit
to loss to loss -1.0 6.3 1.0 OPM %
-108 bps -275 bps
-0.4% 2.4% 0.7% Other income
-26.3% +11.7%
14.0 12.5 19.0 Net profit?
-57.1% -42.0%
3.0 5.2 7.0 PAT margin %
-379 bps -80 bps
1.1% 1.9% 4.9% EPS (₹)
-55.0% +22.7%
adj. 0.14adj. 0.110.30
EPS restated for the 1:1 bonus of Jul 2025: Mar 2026 ₹0.27 to ₹0.14; Sep 2025 ₹0.22 to ₹0.11.
Quality of profit
Pre-tax profit ₹4.0 Cr: core business −₹10.0 Cr, other income ₹14.0 Cr.
Core profit YoY: —
· reported profit -57.1%
Cash & debt
FY26 cash from operations ₹32.0 Cr.
Borrowings ₹134 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹284 ₹264
-7.0% below
M Cap ₹238 Cr
P/E 9.7
PEG 0.30
Profit -46% below its own trend Operating margin contracted 1408 bps YoY 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.5% -2.7%
34.8 35.7 34.9 Operating profit
-53.8% -40.4%
4.2 7.1 9.2 OPM %
-1408 bps -774 bps
12.2% 19.9% 26.3% Other income
-37.4% +58.1%
2.6 1.7 4.2 Net profit?
-42.1% -5.3%
5.8 6.2 10.1 PAT margin %
-1208 bps -48 bps
16.8% 17.3% 28.9% EPS (₹)
-42.0% -5.2%
2.90 3.06 5.00
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹3.9 Cr, other income ₹2.6 Cr.
Core profit YoY: -56.6%
· reported profit -42.1%
Cash & debt
FY26 cash from operations ₹17.0 Cr:
66% of FY26 net profit of ₹25.7 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹35.3 ₹34.8
-1.5% in line Net profit ₹10.7 ₹5.8
-45.6% below
M Cap ₹235 Cr
P/E 11.2
PEG 0.36
Operating margin expanded 334 bps YoY 91% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.2% +4.5%
258 247 275 Operating profit
+80.0% -5.3%
18.0 19.0 10.0 OPM %
+334 bps -72 bps
7.0% 7.7% 3.6% Other income
+42.9% +150.0%
10.0 4.0 7.0 Net profit
— +160.0%
13.0 5.0 0.0 PAT margin %
+504 bps +301 bps
5.0% 2.0% 0.0% EPS (₹)
from loss +150.8%
3.21 1.28 -0.06
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹1.0 Cr, other income ₹10.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹90.0 Cr:
4500% of FY26 net profit of ₹2.0 Cr.
Borrowings ₹374 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹263 ₹258
-1.8% in line
M Cap ₹233 Cr
P/E 35.3
PEG —
Profit -59% below its own trend Operating margin contracted 1123 bps YoY 46% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.9% +147.7%
28.4 11.4 32.9 Operating profit
-50.2% +9.4%
4.4 4.0 8.8 OPM %
-1123 bps -1949 bps
15.4% 34.9% 26.6% Other income
+25.3% +1.3%
1.0 1.0 0.8 Net profit?
-71.8% +23.8%
1.3 1.1 4.7 PAT margin %
-950 bps -463 bps
4.6% 9.2% 14.1% EPS (₹)
-76.0% +0.0%
0.25 0.25 1.04
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹1.2 Cr, other income ₹1.0 Cr.
Core profit YoY: -80.4%
· reported profit -71.8%
Cash & debt
FY26 cash from operations −₹46.9 Cr:
-782% of FY26 net profit of ₹6.0 Cr.
Borrowings ₹118 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16.5 ₹28.4
+72.2% above Net profit ₹3.2 ₹1.3
-58.7% below
M Cap ₹225 Cr
P/E 9.4
PEG 0.16
Turnaround: profit against a loss a year ago Operating margin expanded 132 bps YoY 48% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.2% +1.4%
133 131 93.0 Operating profit
+59.4% -15.7%
17.2 20.5 10.8 OPM %
+132 bps -263 bps
12.9% 15.6% 11.6% Other income
-3.4% +7.9%
3.1 2.9 3.3 Net profit?
from loss -29.9%
4.5 6.4 -0.7 PAT margin %
+413 bps -150 bps
3.4% 4.9% -0.8% EPS (₹)
from loss -30.3%
1.15 1.65 -0.18
Quality of profit
Pre-tax profit ₹6.6 Cr: core business ₹3.5 Cr, other income ₹3.1 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹58.0 Cr:
233% of FY26 net profit of ₹24.9 Cr.
Borrowings ₹94.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹96.8 ₹133
+37.6% above
M Cap ₹224 Cr
P/E 8.3
PEG 0.27
Operating margin expanded 373 bps YoY 68% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +41%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.2% +139.0%
302 126 322 Operating profit
+11.8% from loss 70.0 -10.7 62.6 OPM %
+373 bps +3162 bps
23.2% -8.4% 19.4% Other income
+61.7% —
80.0 1.2 49.5 Net profit
+16.1% from loss 86.0 -34.2 74.1 PAT margin %
+545 bps +5555 bps
28.5% -27.1% 23.0% EPS (₹)
+16.9% from loss 7.28 -2.88 6.23
Quality of profit
Pre-tax profit ₹117 Cr: core business ₹38.0 Cr, other income ₹80.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +41.4%
· reported profit +16.1%
Cash & debt
FY26 cash from operations −₹4.0 Cr:
-14% of FY26 net profit of ₹27.7 Cr.
Borrowings ₹720 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹319 ₹302
-5.3% below
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.0% +74.2%
169 97.0 135 Operating profit
loss widened loss narrowed -26.0 -30.0 -19.6 OPM %
-90 bps +1554 bps
-15.4% -30.9% -14.5% Other income
+208.2% —
65.0 1.0 21.1 Net profit?
from loss from loss 42.0 -29.0 -2.8 PAT margin %
+2694 bps +5475 bps
24.9% -29.9% -2.1% EPS (₹)
from loss from loss 0.22 -0.16 -0.02
Quality of profit
Pre-tax profit ₹35.0 Cr: core business −₹29.0 Cr, other income ₹65.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹310 Cr.
Borrowings ₹105 Cr at Mar 2026, against ₹97.0 Cr at Sep 2025 (+9% ).
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹169
+25.8% above
M Cap ₹219 Cr
P/E 22.8
PEG 0.43
Profit -97% below its own trend Operating margin contracted 682 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-9.5% +8.4%
82.9 76.4 91.6 Operating profit
-72.6% -73.4%
2.5 9.2 9.0 OPM %
-682 bps -911 bps
3.0% 12.1% 9.8% Other income
+278.5% —
4.2 0.3 1.1 Net profit?
-95.0% -81.0%
0.3 1.6 6.2 PAT margin %
-637 bps -176 bps
0.4% 2.1% 6.7% EPS (₹)
-95.0% -81.0%
0.24 1.26 4.76
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹3.3 Cr, other income ₹4.2 Cr.
Core profit YoY: to loss
· reported profit -95.0%
Cash & debt
FY26 cash from operations ₹50.0 Cr:
490% of FY26 net profit of ₹10.2 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹82.9
-23.3% below Net profit ₹9.3 ₹0.3
-96.7% below
M Cap ₹216 Cr
P/E 3.8
PEG 0.01
Operating margin contracted 9159 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 25% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-65.1% -53.2%
18.0 38.5 51.6 Operating profit
to loss to loss -14.0 6.1 7.1 OPM %
-9159 bps -9372 bps
-77.8% 15.9% 13.8% Other income
— —
71.0 1.1 0.8 Net profit?
— from loss 43.0 -0.2 0.0 EPS (₹)
— from loss 5.85 -0.03 0.00
Quality of profit
Pre-tax profit ₹50.0 Cr: core business −₹21.0 Cr, other income ₹71.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹10.0 Cr:
25% of FY26 net profit of ₹39.8 Cr.
Borrowings ₹107 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹51.8 ₹18.0
-65.3% below
M Cap ₹212 Cr
P/E 35.4
PEG —
Profit -76% below its own trend Operating margin contracted 811 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+26.3% +5.9%
72.0 68.0 57.0 Operating profit
-57.1% -62.5%
3.0 8.0 7.0 OPM %
-811 bps -760 bps
4.2% 11.8% 12.3% Other income
+100.0% +100.0%
2.0 1.0 1.0 Net profit?
-80.0% -80.0%
1.0 5.0 5.0 PAT margin %
-738 bps -596 bps
1.4% 7.4% 8.8% EPS (₹)
-81.0% -80.1%
0.56 2.82 2.94
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹2.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -80.0%
Cash & debt
FY26 cash from operations −₹18.0 Cr.
Borrowings ₹47.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹78.0 ₹72.0
-7.7% below Net profit ₹4.1 ₹1.0
-75.7% below
M Cap ₹210 Cr
P/E 8.4
PEG 0.06
Profit -96% below its own trend All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-5.6% —
1,440 54.3 1,527 Operating profit
to loss to loss -0.4 0.6 4.5 OPM %
-32 bps -110 bps
-0.0% 1.1% 0.3% Other income
+152.1% +54.8%
2.9 1.8 1.1 Net profit?
-92.5% -59.7%
0.8 2.1 11.0 PAT margin %
-67 bps -374 bps
0.1% 3.8% 0.7% EPS (₹)
-92.5% -59.6%
0.61 1.51 8.10
Quality of profit
Pre-tax profit ₹1.8 Cr: core business −₹1.1 Cr, other income ₹2.9 Cr.
Core profit YoY: to loss
· reported profit -92.5%
Cash & debt
FY26 cash from operations −₹3.0 Cr:
-15% of FY26 net profit of ₹19.5 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,053 ₹1,440
-52.8% below Net profit ₹22.1 ₹0.8
-96.2% below
M Cap ₹209 Cr
P/E 33.5
PEG —
Profit -49% below its own trend Operating margin contracted 385 bps YoY 93% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -86%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-7.8% +2.1%
438 429 475 Operating profit
-50.0% -13.0%
20.0 23.0 40.0 OPM %
-385 bps -80 bps
4.6% 5.4% 8.4% Other income
+105.0% +310.0%
41.0 10.0 20.0 Net profit
-30.0% +115.4%
28.0 13.0 40.0 PAT margin %
-203 bps +336 bps
6.4% 3.0% 8.4% EPS (₹)
-30.1% +118.1%
1.81 0.83 2.59
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹3.0 Cr, other income ₹41.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -85.7%
· reported profit -30.0%
Cash & debt
FY26 cash from operations ₹92.0 Cr:
378% of FY26 net profit of ₹24.3 Cr.
Borrowings ₹321 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹533 ₹438
-17.8% below Net profit ₹54.9 ₹28.0
-49.0% below
M Cap ₹208 Cr
P/E 6.9
PEG 0.02
Profit -60% below its own trend Operating margin expanded 2454 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+400.7% +1.9%
23.9 23.4 4.8 Operating profit
loss widened loss widened -4.5 -0.0 -2.1 OPM %
+2454 bps -1887 bps
-18.9% -0.1% -43.5% Other income
-7.2% +288.0%
26.4 6.8 28.5 Net profit?
-20.3% +314.1%
15.3 3.7 19.2 PAT margin %
— +4842 bps
64.2% 15.8% — EPS (₹)
-20.4% +318.5%
1.13 0.27 1.42
Quality of profit
Pre-tax profit ₹18.9 Cr: core business −₹7.5 Cr, other income ₹26.4 Cr.
Core profit YoY: loss widened
· reported profit -20.3%
Cash & debt
FY26 cash from operations −₹29.0 Cr:
-134% of FY26 net profit of ₹21.6 Cr.
Borrowings ₹67.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹9.5 ₹23.9
+150.3% above Net profit ₹38.4 ₹15.3
-60.1% below
M Cap ₹208 Cr
P/E 26.8
PEG 2.43
Profit -36% below its own trend All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.2% +33.7%
96.2 72.0 88.1 Operating profit
-13.7% -67.5%
2.1 6.6 2.5 OPM %
-59 bps -696 bps
2.2% 9.2% 2.8% Other income
+626.9% +36.7%
1.9 1.4 0.3 Net profit
-60.2% -79.7%
0.7 3.5 1.8 PAT margin %
-127 bps -407 bps
0.7% 4.8% 2.0% EPS (₹)
-61.1% -79.4%
0.07 0.34 0.18
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹1.0 Cr, other income ₹1.9 Cr.
Core profit YoY: to loss
· reported profit -60.2%
Cash & debt
FY26 cash from operations −₹9.0 Cr:
-116% of FY26 net profit of ₹7.8 Cr.
Borrowings ₹124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹78.3 ₹96.2
+22.9% above Net profit ₹1.1 ₹0.7
-36.3% below
TCC
· Q4 FY26 · Consolidated
M Cap ₹207 Cr
P/E 3.0
PEG —
Operating margin contracted 4407 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+160.8% +80.7%
84.0 46.5 32.2 Operating profit
+12.3% -7.8%
28.0 30.4 24.9 OPM %
-4407 bps -3201 bps
33.3% 65.3% 77.4% Other income
— —
22.0 1.6 1.8 Net profit?
+81.6% +121.3%
31.0 14.0 17.1 PAT margin %
-1610 bps +677 bps
36.9% 30.1% 53.0% EPS (₹)
— +109.9%
1.23 adj. 0.594.79
EPS restated for the ₹10 to ₹2 split of Sep 2026: Dec 2025 ₹2.93 to ₹0.59. No EPS growth against Mar 2025: ₹10 to ₹2 split in Sep 2026.
Quality of profit
Pre-tax profit ₹6.0 Cr: core business −₹16.0 Cr, other income ₹22.0 Cr.
Core profit YoY: to loss
· reported profit +81.6%
Against its own trend ?
Trend Actual Gap
Sales ₹63.6 ₹84.0
+32.1% above Net profit ₹29.6 ₹31.0
+4.7% in line
M Cap ₹206 Cr
P/E 74.7
PEG —
Operating margin contracted 274 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-10.9% -3.1%
83.6 86.2 93.8 Operating profit
-25.3% +7.4%
11.9 11.1 15.9 OPM %
-274 bps +139 bps
14.2% 12.8% 17.0% Other income
-12.6% -31.0%
2.6 3.8 3.0 Net profit?
-18.7% from loss 0.8 -0.2 0.9 PAT margin %
-9 bps +110 bps
0.9% -0.2% 1.0% EPS (₹)
-18.0% from loss 0.41 -0.09 0.50
Quality of profit
Pre-tax profit ₹1.4 Cr: core business −₹1.2 Cr, other income ₹2.6 Cr.
Core profit YoY: to loss
· reported profit -18.7%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
841% of FY26 net profit of ₹3.1 Cr.
Borrowings ₹249 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹60.3 ₹83.6
+38.6% above Net profit ₹0.8 ₹0.8
-9.6% in line
M Cap ₹203 Cr
P/E 13.6
PEG 0.90
Profit +44% above its own trend Operating margin expanded 473 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+13.6% +13.6%
25.0 22.0 22.0 Operating profit
+33.3% +33.3%
8.0 6.0 6.0 OPM %
+473 bps +473 bps
32.0% 27.3% 27.3% Other income
+0.0% -25.0%
3.0 4.0 3.0 Net profit?
+33.3% +14.3%
8.0 7.0 6.0 PAT margin %
+473 bps +18 bps
32.0% 31.8% 27.3% EPS (₹)
+29.4% +13.6%
7.96 7.01 6.15
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹8.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +33.3%
· reported profit +33.3%
Cash & debt
FY26 cash from operations ₹11.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹21.5 ₹25.0
+16.2% above Net profit ₹5.6 ₹8.0
+43.6% above
M Cap ₹203 Cr
P/E 10.0
PEG 0.40
Profit -21% below its own trend Operating margin expanded 707 bps YoY 42% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +43%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.8% -31.4%
16.3 23.8 18.9 Operating profit
+30.0% -34.6%
3.4 5.2 2.6 OPM %
+707 bps -104 bps
21.0% 22.0% 13.9% Other income
-38.3% -20.1%
1.8 2.2 2.9 Net profit
-4.4% -31.2%
3.7 5.3 3.8 PAT margin %
+220 bps +5 bps
22.4% 22.4% 20.2% EPS (₹)
-4.6% -31.3%
7.32 10.65 7.67
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹2.5 Cr, other income ₹1.8 Cr.
Core profit YoY: +42.6%
· reported profit -4.4%
Cash & debt
FY26 cash from operations ₹13.0 Cr:
59% of FY26 net profit of ₹21.9 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹17.3 ₹16.3
-5.7% below Net profit ₹4.7 ₹3.7
-21.4% below
Profit -56% below its own trend Operating margin contracted 772 bps YoY 85% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -93%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.1% +40.7%
101 71.7 102 Operating profit
-63.5% -21.2%
4.5 5.8 12.5 OPM %
-772 bps -354 bps
4.5% 8.1% 12.2% Other income
-66.1% -24.5%
3.2 4.2 9.4 Net profit?
-54.7% -70.3%
2.4 8.0 5.3 PAT margin %
-280 bps -884 bps
2.4% 11.2% 5.2% EPS (₹)
-50.0% -71.4%
0.08 0.28 0.16
Quality of profit
Pre-tax profit ₹3.8 Cr: core business ₹0.6 Cr, other income ₹3.2 Cr.
Core profit YoY: -92.6%
· reported profit -54.7%
Cash & debt
FY26 cash from operations −₹22.0 Cr:
-105% of FY26 net profit of ₹20.9 Cr.
Borrowings ₹18.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹121 ₹101
-16.3% below Net profit ₹5.4 ₹2.4
-55.5% below
M Cap ₹193 Cr
P/E 4.3
PEG 0.12
Profit +433% above its own trend Operating margin contracted 1071 bps YoY 55% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -32%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.5% +122.2%
177 79.7 159 Operating profit
-17.8% +506.3%
53.0 8.7 64.5 OPM %
-1071 bps +1897 bps
29.9% 11.0% 40.7% Other income
+905.4% +834.6%
36.0 3.9 3.6 Net profit?
+166.7% from loss 45.0 -2.6 16.9 PAT margin %
+1479 bps +2875 bps
25.4% -3.3% 10.6% EPS (₹)
+167.3% from loss 1.39 -0.08 0.52
Quality of profit
Pre-tax profit ₹66.0 Cr: core business ₹30.0 Cr, other income ₹36.0 Cr.
Core profit YoY: -31.8%
· reported profit +166.7%
Cash & debt
FY26 cash from operations ₹108 Cr:
283% of FY26 net profit of ₹38.1 Cr.
Borrowings ₹379 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹208 ₹177
-15.0% below Net profit ₹8.4 ₹45.0
+433.4% above
M Cap ₹191 Cr
P/E 14.4
PEG 0.31
Turnaround: profit against a loss a year ago Operating margin contracted 324 bps YoY 88% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 37% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.3% +22.0%
20.2 16.6 23.3 Operating profit
-55.9% -7.1%
0.7 0.7 1.5 OPM %
-324 bps -105 bps
3.4% 4.4% 6.6% Other income
+117.5% -74.6%
1.4 5.3 0.6 Net profit?
from loss -72.4%
1.5 5.5 -1.5 PAT margin %
+1377 bps -2567 bps
7.5% 33.2% -6.3% EPS (₹)
from loss -72.2%
0.52 1.87 -0.54
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.2 Cr, other income ₹1.4 Cr.
Core profit YoY: -79.8%
Cash & debt
FY26 cash from operations ₹9.0 Cr:
37% of FY26 net profit of ₹24.6 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹28.5 ₹20.2
-29.1% below
M Cap ₹190 Cr
P/E 16.9
PEG —
Profit -16% below its own trend 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
-16.9% +13.6%
438 386 527 Operating profit
+0.0% -13.2%
12.0 13.8 12.0 OPM %
+46 bps -85 bps
2.7% 3.6% 2.3% Other income
-25.0% +1.0%
3.0 3.0 4.0 Net profit?
-28.6% -19.8%
5.0 6.2 7.0 PAT margin %
-19 bps -48 bps
1.1% 1.6% 1.3% EPS (₹)
-30.9% -27.3%
2.10 2.89 3.04
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹5.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -16.7%
· reported profit -28.6%
Cash & debt
FY26 cash from operations −₹56.0 Cr.
Borrowings ₹359 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹607 ₹438
-27.9% below Net profit ₹6.0 ₹5.0
-16.2% below
How to read this page
The numbers. Each card is one company's Q4 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 13 Oct 2026, 20:15 IST
